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Studley: OC Office Market is Stagnant

ORANGE COUNTY, CA—With regional hiring slowing and limited options for large, contiguous blocks of space, a recent report from the firm shows that market dynamics have become less fluid.

By Carrie Rossenfeld | Updated on March 12, 2014

ORANGE COUNTY, CA—The recovering Orange County office market appeared to lose momentum through the final quarter of 2013, according to a recent report from Studley. The firm says that regional hiring slowed and market dynamics became less fluid, creating a stagnant atmosphere for a market struggling to recoup its recession losses.

According to the report, which analyzed office-market conditions in the region, leasing volume declined to 7.1 million square feet in 2013—nearly 20% less than the long-term historical market average—from 9.1 million square feet in 2011 and 7.6 million square feet in 2012.

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